Mexican economy could shrink up to 8.8% in 2020 - central bank

  • Mexico‚Äôs central bank on Wednesday said the economy could contract by as much as 8.8% in 2020 as it published a range of forecasts for this year due to the coronavirus pandemic, followed by a likely recovery in 2021.
  • The bank said the downturn could see economic contraction of between 4.6% and 8.8% this year, revising down its forecast from an earlier estimate of 0.5-1.5% growth in 2020.
  • Depending on the shape of the rebound, and whether it is so-called V-shaped or a U-shaped recovery, the bank said growth in 2021 could range from -0.5% to 4.1%.

(Source: Reuters)